Tax changes to private residences for 2020/21 From 6 April 2020, HMRC is proposing three significant changes which will potentially increase the capital gains tax paid on the disposal of any residential property by an individual. These changes seek to raise extra revenue from the disposal of residential properties and to collect these taxes more[…]
Steps to shield your firm from threats Fraud costs the UK around £190 billion a year, with businesses bearing almost three quarters – £140bn – of those losses. This worrying picture is backed up by the 2019 Fraudscape report compiled by anti-fraud body Cifas, which provides statistics for fraud committed by employees. The report read:[…]
Advice for contractors and the self-employed Working from home offers all kinds of benefits, from the opportunity to create the perfect environment in which you can be most productive, to the improvements to work-life balance that come with ditching the commute. There are advantages for businesses, too, assuming they trust their employees to work without[…]
The pros and cons of letting furnished holiday accommodation When furnished holiday property is let on a commercial basis for short periods, the owner can benefit from certain tax reliefs which wouldn’t otherwise be available to residential landlords, providing certain conditions are met. However, there are also several disadvantages associated with letting property as holiday[…]
How to reduce what you owe the taxman Nobody wants the taxman to take more than his fair share, and planning your finances early on can ensure you adopt the most tax-efficient strategy for the months and years ahead. Effective tax planning will help protect your wealth and any assets, ready to pass on when[…]
Whatever your age, it’s never too late to start saving to retire.
Raising finance is a crucial but challenging aspect of running a successful business, whether you’re launching a start-up or looking to expand your operations. You can have the best product in the world, a solid business plan and a comprehensive marketing strategy, but if you can’t access the necessary finance success will be much harder[…]